You won’t hear about it from the Paleo-media. You won’t see it on the television unless you’re watching Fox News. It’s a sign of the success of President Bush’s economic policies and tax-cuts.
What is it?
It is the rapidly declining federal deficit. For the past two years now the deficit has been severely under-performing. It has been consistently falling short of the projected levels at a rate of about $50 billion/year.
You read it right; the federal deficit is dropping like a stone.
Yep, in spite of the Clinton recession, in spite of the events of 9-11-01, in spite of the wars in Iraq and Afghanistan, in spite of the global war on terrorism, in spite of record pork-barrel spending by a congress out of control, in spite of historically high gasoline prices, in spite of the Katrina/Rita hurricane disasters, and in spite of all the Democrats can do or say to drive down public confidence in the economy, President Bush is on track to beat his target of halving the federal deficit 3 years ahead of schedule.
How can this be?
Tax-cuts work! The Presidents economic plan is and has been working better than even he could have hoped. Because of the tremendous health of the national economy brought on by the Presidents tax-cuts, federal revenues are up substantially, even outstripping the growth in spending.
The record annual deficit of $413 billion occurred in FY 2004. Since then the deficit has been sinking fast. Last years deficit came in at $319 billion and this years projections by the Congressional Budget Office now put it below $300 billion. The original estimates for FY 2005 projected a deficit of $350 billion.
The math is simple, thanks to a booming economy brought on by the tax-cuts so maligned by the Democrats, revenues this year are up 12.9% compared to the same time last year. Spending, in spite of all Congress could do has been held to a robust 8% annually.
With numbers like these and the continued growth in jobs, one would think everyone in
Employment is at an all time high, the Democrats tell us that the jobs that have been created aren’t worth having. All of the “good” jobs are going overseas.
The truth is that the “flood of jobs going overseas” is actually a trickle. Yep outsourcing, the great bugbear cited endlessly by the John Kerry-Heinz/John ”Shyster” Edwards campaign has proven to be a tempest in a teapot.
In an economy which, according to the U.S. Department of Labor, employs 144 million people (non-farm payroll), the number of jobs lost due to “offshore outsourcing” continues to be around 200,000/year. The current unemployment rate is 4.2%.
You would never know it from the Paleo-press, but we are in a booming economy.
Let me repeat, tax-cuts work, they always have. Democrats know this, but they will never acknowledge it because it goes against everything they stand for, vis. big government programs, the nanny state, socialized medicine, a tightly controlled economy, you know, socialism (if not communism).
As a percentage of Gross Domestic Product, the current deficit is below its halcyon days of the 1980’s. If Congress can keep its meddling hands off of our money and extend the tax-cuts enacted at the behest of President Bush, there is a very real probability that
Of course Congress refraining from raising our taxes is a major caveat, especially if the Democrats take over our government.
Virtually all of the so called reduction in the size of government President Clinton took credit for in balancing the budget came from cuts in our military. This short-sightedness has been directly responsible for the Democrats loud lamentations over the difficulties we have faced in sustaining our troop levels in
It was left to President Bush to rebuild our military to appropriate levels (an ongoing process) and to re-equip our troops to enable them to achieve their mission. Additionally, the changed nature of combat brought about by the new tactics of asymmetrical warfare as practiced by the terrorists has changed the requirements for equipping our troops.
Hummers, the vehicles intended to be the work horses of our army for the foreseeable future, have proven to highly vulnerable to the tactics of the terrorists in
The nature of this war has also exposed the need for all of our troops to be supplied with personal body armor, another unanticipated expense in the pursuit of our military objectives. As with the equipment needs, the changed nature of warfare has added the additional burden of revised training for our troops. New tactics and new techniques in fighting a determined insurgency have led to the building of new training facilities and training in public relations as well as those new tactics.
Yet, in spite of all of the difficulties inherited by this administration and these new and unanticipated costs for the military, the deficit is now beginning to fall.
Even as that happens, the Democrats continue their ill-advised and moronic drumbeat for increased taxes. They would have the tax-cuts instituted by the President expire so that they can pursue their own private agenda of buying the votes of special interest groups and instituting their utopian socialist state.
I can think of no action more certain to wreck the economy than to follow the advice of these socialist dinosaurs. Increasing taxes is the most certain way to stall the economy and plunge
President Clinton’s legacy (aside from a stained dress and multiple charges of sexual assault) was a weak military, Osama bin Laden, and a recession.
President Bush’s legacy, if Congress doesn’t lose its nerve, will be a free and democratic Iraq, a strong flexible military, a robust economy, record employment, a more secure nation, and a declining deficit.
That’s a pretty good legacy by any standard. Short of a stronger more enforcement oriented policy on illegal immigration, something I continue to find to be a severe failing on the President’s part, I couldn’t ask for a greater record of accomplishment form President Bush.
President George, you da man!
Long Live Our American Republic!!!